The New York Post reported on its Web site today that the complicated HD Supply distribution business is affecting Home Depot Inc.’s attempts at selling the wholesale arm of the retail giant.

While the country’s housing slump remains a factor, how HD Supply was put together is what’s making it a tough sell.

“It’s a hairball - a roll up of a roll up,” the paper quoted Colin McGranahan, an analyst for Sanford Bernstein. Home Depot built HD Supply by acquiring a number of distributors catering to the expansive construction industry.

All that rolling up is making it difficult for bidders to determine what exactly they are buying. The New York Post reported that three private investment groups are still interested, but a fourth has dropped out of the bidding.

Home Depot announced last February that they would consider unloading HD Supply. Analysts have valued the business at more than $10 billion.